Residential transactions climb by 13% in Bahrain, while warehousing remains the star performing sector

Residential transactions climb by 13% in Bahrain, while warehousing remains the star performing sector

Residential transactions climb by 13% in Bahrain, while warehousing remains the star performing sector   Bahrain, 19th June 2023 – Residential transactional volumes in Bahrain have recovered, rising by 13% during Q1 2023, according to leading global property consultancy, Knight Frank.   In its latest Bahrain Real Estate Market Review, Knight Frank also details how the industrial warehousing sector continues to grow, while retail rents remain under pressure.   Faisal Durrani, Partner – Head of Middle East Research, explained: “Apartment prices have retreated by 3.5% in the last 12-months, while villa prices have risen by a marginal 1.5% over the same period, suggesting an affordability ceiling may have been reached. Indeed, we have noted a rise in demand for projects that are financed by the Mazaya Social Housing Program as households shift their focus to more projects that are perceived to be more affordable”.    When it comes to the office market, Knight Frank says that office rents have slipped by 2.1% in the last 12-months, but there are reasons for landlords to be optimistic.   Stephen Flanagan, Partner – Head of Valuation and Advisory, MENA, added: “The government has implemented several initiatives to attract foreign investment, including the establishment